Honam may shut all PP lines on poor demand

29 October 2008 02:30  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea’s polyolefins (PP) producer Honam Petrochemical may shut all its polypropylene (PP) plants due to persistent weak demand, a company source said on Wednesday.

 

“We will decide shortly whether to shut down all our PP plants,” the source said, adding that the units would be taken offline next week if it decided to stop production.

 

The producer had been operating at reduced rates since September due to the weak demand.

 

Honam’s 250,000 tonne/year PP plant at Daesan, operated by its sister company Lotte Daesan, was running at 80% and its 300,000 tonne/year PP line at the same site was operating at 65%, he said.

 

Its PP facilities at Yeosu – with a combined capacity of 380,000 tonnes/year – were still running at 100%, he said.

 

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By: Chow Bee Lin
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